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Middle Eastern PE producers reveal June offers in Turkey

by ChemOrbis Editorial Team -
  • 01/06/2017 (10:00)
Turkish players are receiving fresh PE offers from their regular Middle Eastern suppliers this week with decreases when compared to last May deals, in line with earlier expectations.

A Saudi Arabian major announced its new LLDPE c4 film offers at $1220/ton FCA Turkey, subject to 6.5% customs duty, cash. The level represented $10-20/ton drops month over month. As for HDPE film, the producer does not have any material promptly available at its warehouses for the moment, buyers reported. Another Saudi source’s June LDPE film prices emerged at $1190-1200/ton CIF Turkey, subject to 6.5% customs duty, cash, down by $50-60/ton from May.

A third Saudi Arabian producer was reported to be offering HDPE film at $1120/ton with the abovementioned terms, confirmed a converter. The new level is flat from last month when their prices formed the low end of the overall Mid-Eastern HDPE film range, meanwhile. The same source’s new LLDPE c4 film price stands at $1140/ton, the same as last month’s low end for regional LLDPE prices.

A Middle Eastern PE producer also revealed its June offers with decreases of $30/ton for LDPE grades, $20-30/ton for HDPE film and $10/ton for LLDPE c4 film, all CIF Turkey, subject to 6.5% customs duty, cash. “Our sales have been smooth for LDPE and LLDPE, while demand for HDPE is not encouraging amidst ample supplies from Iran and Ramadan lull. Nonetheless, we don’t feel much pressure thanks to the fact that we don’t have large allocations,” a producer source highlighted.

Players in Turkey already expected to hear lower June PE prices from the Middle East. These expectations were fed by the lower ethylene costs in global markets, fluctuating energy costs and above all, stagnant market conditions particularly for HDPE film and blow moulding grades, for which sellers have been under pressure from oversupplies of Iran.

Currently, the Middle-Eastern price ranges are at $1190-1230/ton for LDPE grades, $1140-1160/ton for LLDPE c4 film and $1110-1120/ton for HDPE film, CIF Turkey equivalent, subject to 6.5% duty, cash.
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